To benefit from the 13% derivation Anambra Joins Oil Producing States

To benefit from the 13% derivation Anambra Joins Oil Producing States.

NewsReport September 1, 2021

To benefit from the 13% derivation Anambra Joins Oil Producing States

Anambra State has now joined the ranks of oil-producing states, allowing it to benefit from the 13% Derivation Fund.
Anambra has officially joined Nigeria’s list of oil-producing states, and it will soon begin to benefit from the 13% Derivation Fund NewsReport gathered

Governor Willie Obiano’s appeal for a fair share of revenue coming to the nation from oil and gas production activities in Anambra state was approved by the Revenue Mobilisation Allocation And Fiscal Commission.

The Commission approved the allocation of eleven oil wells entirely to Anambra state, according to a letter sent to Governor Obiano by its secretary, Mr M.B. Shehu, It also approved the attribution of the Anambra River One, Two, and Three oil wells, which will be divided 50/50 between Anambra and Kogi states pending the final demarcation of the two states’ borders.

Nzam-One oil well, Alo-One oil well, and Ogbu-One oil well are the eleven oil wells that are entirely credited to Anambra state. The oil wells Ameshi One, Two, Three, and Four, as well as Enyie One, Two, Three, and Four, are among the others.

Revenue Mobilisation and Fiscal Commission’s approval was at its 139th plenary session, held on twenty seventh July, 2021. It said the 13 percent derivation will take effect when the said revenue from the operations of the said oil wells starts contributing into the federation account.